Deal or No Deal?

摘要

When stockbrokers are accused of mis -steps or misconduct, more than 90% of them settle with the Financial Industry Regulatory Authority (FINRA), the private oversight group. But does it pay to make a deal rather than go before FINRA's three-judge panel? Not necessarily, concludes a study by law firm Sutherland Asbill& Brennan. It found that in 11% of litigated cases, FINRA dismissed the charges outright. Even when FINRA upheld the charges, about half of the time it reduced the initial fines and sus-rnpensions./For 46% of brokers facing lifetime bans, litigation yielded an average 16.5-month suspension instead.